Equities analysts expect that M&T Bank Co. (NYSE:MTB) will post earnings of $2.40 per share for the current quarter, Zacks reports. Three analysts have made estimates for M&T Bank’s earnings, with estimates ranging from $2.33 to $2.47. M&T Bank posted earnings per share of $2.01 in the same quarter last year, which indicates a positive year-over-year growth rate of 19.4%. The firm is expected to announce its next earnings report before the market opens on Thursday, January 18th.
According to Zacks, analysts expect that M&T Bank will report full year earnings of $9.10 per share for the current fiscal year, with EPS estimates ranging from $9.05 to $9.15. For the next fiscal year, analysts forecast that the firm will post earnings of $10.16 per share, with EPS estimates ranging from $9.66 to $11.99. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow M&T Bank.
M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $2.21 EPS for the quarter, missing the Zacks’ consensus estimate of $2.40 by ($0.19). The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.43 billion. M&T Bank had a net margin of 23.97% and a return on equity of 9.52%. During the same period in the prior year, the company posted $2.10 EPS.
M&T Bank (NYSE MTB) opened at $173.44 on Friday. The company has a market cap of $26,500.00, a PE ratio of 19.98, a PEG ratio of 1.92 and a beta of 0.84. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.57. M&T Bank has a 52-week low of $141.12 and a 52-week high of $176.71.
The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 1st were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $3.00 annualized dividend and a dividend yield of 1.73%. M&T Bank’s dividend payout ratio (DPR) is currently 34.56%.
In related news, Director Gary N. Geisel sold 1,046 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $170.49, for a total value of $178,332.54. Following the transaction, the director now directly owns 17,586 shares in the company, valued at $2,998,237.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $171.19, for a total transaction of $171,190.00. Following the completion of the transaction, the director now owns 52,049 shares in the company, valued at $8,910,268.31. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 216,000 shares of company stock worth $17,250 and sold 32,128 shares worth $5,474,208. Corporate insiders own 3.18% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Sun Life Financial INC raised its holdings in M&T Bank by 8,576.9% in the second quarter. Sun Life Financial INC now owns 1,128 shares of the financial services provider’s stock worth $183,000 after purchasing an additional 1,115 shares during the period. Wedbush Securities Inc. acquired a new stake in M&T Bank in the third quarter worth $206,000. Columbia Asset Management acquired a new stake in M&T Bank in the third quarter worth $212,000. Virtu Financial LLC acquired a new stake in M&T Bank in the third quarter worth $213,000. Finally, Almanack Investment Partners LLC. acquired a new stake in M&T Bank in the second quarter worth $218,000. Institutional investors own 77.71% of the company’s stock.
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M&T Bank Company Profile
M&T Bank Corporation (M&T) is a bank holding company. As of December 31, 2016, M&T had two bank subsidiaries: Manufacturers and Traders Trust Company (M&T Bank) and Wilmington Trust, National Association (Wilmington Trust, N.A.). The Company, along with its subsidiaries, offers a range of retail and commercial banking, trust and wealth management, and investment services.
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